Market Comment - 1st August 2022

Posted by Stuart PritchardAugust 1, 2022

Good morning,

Pound rates have started the week much as they left off on Friday. Versus both the Euro and the Dollar the rates are tracking generally sideways.

Business news is centred on the relaxing of mortgage affordability rules introduced during the credit crunch. Lenders had strict stress tests imposed by the Bank of England to insure against rising interest rates. However renters found they were paying more in rent per month than they would paying a mortgage down but weren't eligible for a mortgage.

There is manufacturing data out during the day then the UK sees the Nationwide house prices at breakfast tomorrow.

Today’s Economic Calendar

EUR: 09:00 Manufacturing Data

UK: 09:30 Manufacturing Data

US: 15:00 Manufacturing Data

UK: Tuesday 07:00 Nationwide Housing Prices

As ever we look forward to keeping you in the loop and look out for our next update.

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